Keycard announced the early access launch of its identity and access management (IAM) platform for AI agents and the completion of a $38 million Series A funding round. The round was led by Andreessen Horowitz, Acrew Capital, and Boldstart Ventures, with participation from Mantis VC, Tapestry Ventures, Essence Ventures, Exceptional Capital, Modern Technical Fund, Vermillion Cliffs Ventures, and several angel investors. Keycard claims to replace traditional long-term credentials with federatable, revocable "ephemeral identity binding tokens," supporting delegation chains and task-level policy enforcement across applications and multiple agents, and providing end-to-end audit logs for traceability.